Term
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Definition
| allows a company to simplify its form 10-K by referring to information in its annual report. |
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Term
| Which one of the following is not a prescribed event for the filing of Form 8-K? |
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Definition
| Resignation of a middle manager. |
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Term
| Which one of the following registration statement forms is used by large issuers that already have at least $75 million voting stock held by nonaffiliates? |
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Definition
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Term
| Which one of the following is not a prescribed event for the filing of Form 8-K? |
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Definition
| Resignation of a middle manager. |
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Term
| Which statement is false regarding the registration of public accounting firms with the PCAOB under the Sarbanes-Oxley Act? |
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Definition
| Foreign accounting firms are exempt from registration. |
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Term
| The audit committee of an entity subject to SEC regulation will do all of the following except: |
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Definition
| sign certification of the annual financial statements. |
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Term
| The SEC has usually restricted its role in establishing accounting principles to |
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Definition
| determining required disclosures. |
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Term
| Which statement is false regarding the Public Company Accounting Oversight Board (PCAOB)? |
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Definition
| Selected Answer: Allows all members to be accountants, past or present. |
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Term
| The SEC's operating costs are supported through |
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Definition
| Selected Answer: registration fees charged to issuers offering securities to the public. |
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Term
| What is shelf registration? |
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Definition
| A procedure that allows a company to register securities and then sell them over a period of two years without reregistering. |
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Term
| Which one of the following regulates the subsequent trading of securities through brokers and exchanges? |
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Definition
| Selected Answer: The Securities Exchange Act of 1934. |
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Term
| Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by nonaffiliates. The company had been filing with the SEC for eight years. Which one of the following forms should have been used for registration? |
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Definition
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Term
| Which one of the following is not a division of the SEC? |
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Definition
| The Division of Compliance Information. |
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Term
| Which one of the following Federal laws was enacted in 1935? |
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Definition
| Public Utility Holding Company Act. |
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Term
| The SEC's role in the initial registration of securities to be publicly issued is: |
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Definition
| to ensure that the content of the registration filing is in compliance with securities regulations. |
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Term
| The goals of the SEC include all except which one of the following? |
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Definition
| Controlling the number of companies whose stock is listed on major stock exchanges. |
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Term
| A letter of comments would be issued by the SEC |
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Definition
| to request clarification of a registration statement. |
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Term
| A proxy statement must be filed with the SEC at least how many days before being distributed? |
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Definition
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Term
| Information required in proxy statements includes all except which of the following? |
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Definition
| Two-year summary of industry segments, export sales, and foreign and domestic operations. |
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Term
| Which one of the following forms is used when no other form is prescribed? |
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Definition
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Term
| Regulation S-X specifies: |
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Definition
| the form and content of financial statements to be filed with the SEC. |
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Term
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Definition
| An annual report filed with the SEC. |
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Term
| Which one of the following is not a characteristic of the Public Company Accounting Oversight Board? |
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Definition
| Only one member can be an accountant, past or present. |
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Term
| Which of the following are issued by the SEC, as needed, to supplement Regulation S-X and Regulation S-K? |
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Definition
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Term
| hich one of the following regulates the initial offering of securities by a company or underwriter? |
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Definition
| The Securities Act of 1933. |
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Term
| A letter of comments would be issued by the SEC |
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Definition
| to request clarification of a registration statement. |
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Term
| The prospectus part of a registration contains all except which of the following? |
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Definition
| Additional data concerning expenses of issuance. |
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Term
| Which of the following securities offerings is not exempt from registration prior to their sale? |
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Definition
| Offerings of more than $5 million. |
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Term
| What is the primary focus of the Sarbanes-Oxley Act? |
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Definition
| CORRECTED E. Regulation of independent audit firms and audit standards |
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Term
| Which one of the following requires the maintenance of accounting records and adequate internal accounting controls? |
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Definition
| The Foreign Corrupt Practices Act of 1977. |
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Term
| Which of the following is not a security as defined by the SEC? |
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Definition
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Term
| Audited financial statements in an annual report of an issuer that is subject to SEC regulation must include: |
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Definition
| two balance sheets, three income statements, and three statements of cash flows. |
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Term
| When must Form 8-K be filed with the SEC? |
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Definition
| Within fifteen days of the occurrence of certain significant events. |
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Term
What information is required in proxy statements?
(1) Five-year summary of operations.
(2) Five-year summary of industry segments.
(3) Listing of company directors and executive officers.
(4) Management discussion and analysis (MD&A). |
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Definition
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Term
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Definition
| establishes requirements for nonfinancial information to be filed with the SEC. |
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